Comcast Deal for NBC Stake from GE set for Thursday

December 2, 2009

(ChattahBox)—Just a day after General Electric Co. acknowledged the terms of a deal to buy a 20 percent stake of NBC Universal held by French media giant, Vivendi, Comcast is poised to jump in the fray and announce its plans to buy a controlling interest in NBC from GE. The AFP is reporting that a source has said, Comcast plans to release a statement on Thursday, confirming its plans to buy a 51 percent stake of NBC Universal from GE.

The controlling interest in NBC Universal is valued at around $30 Billion. Comcast would reportedly kick in about $5 to $7 billion in cash with the additional contribution coming from its cable networks, to create a joint venture that would form the new NBC Universal.

The Wall Street Journal reported that GE agreed to pay $5.8 billion for the 20 percent NBC stake held by Vivendi, which will pave the way for the Comcast deal.

Regulatory approval for the media deal could take up to two years.

Source


Comments

One Response to “Comcast Deal for NBC Stake from GE set for Thursday”

  1. About cable, nbc universal deal, nbc stake, comcast deal, announce deal | Find me About on December 2nd, 2009 9:15 pm

    […] (ChattahBox)—Just a day after General Electric Co. acknowledged the terms of a deal to buy a 20 percent stake of NBC Universal held by French media giant, Vivendi, Comcast is poised to jump in the fray and announce its plans to buy a controlling …Read Original Story: Comcast Deal for NBC Stake from GE set for Thursday – ChattahBox […]

Got something to say? **Please Note** - Comments may be edited for clarity or obscenity, and all comments are published at the discretion of ChattahBox.com - Comments are the opinions of the individuals leaving them, and not of ChattahBox.com or its partners. - Please do not spam or submit comments that use copyright materials, hearsay or are based on reports where the supposed fact or quote is not a matter of public knowledge are also not permitted.